SAN FRANCISCO - April 12, 2010
Social Gold, the leading virtual goods monetization platform for thousands of online games and virtual worlds, today announced the launch of partnerships with direct payment methods paysafecard, Cherry Credits, and Ukash. Additionally, Social Gold will support Interac bank transfers. Through these partnerships, Social Gold will provide support for local currency and payment methods in Canada, Europe, Asia and the Middle East. Using the Social Gold platform, customers will be able to purchase virtual goods in 20 local currencies, including Euros, Pounds, Canadian dollars, Hong Kong dollars and Australian dollars. Additionally, Social Gold today announced partnerships to support payments in Canada, Australia and parts of Europe for leading online communities Nexopia, Tetris Friends and Wonderhill.
“One of the biggest challenges facing publishers of virtual economies is how to effectively manage global payments and currency exchanges,” said Vikas Gupta, co-founder and CEO of Social Gold.“Our platform solves this problem because we have built direct integrations with the most relevant payment methods for customers in specific regions. Our partnerships with paysafecard, Cherry Credits, and Ukash, which ensure 100% coverage of payment methods in a specific set of regions, streamline the purchasing experience and lead to increased conversion.”
By partnering with global payment methods paysafecard, Cherry Credits, and Ukash, Social Gold is now able to offer customers a frictionless payments experience in a wide variety of local currencies in international markets across Canada, Europe, Asia and the Middle East. Regardless of the language or currency that customers use, Social Gold ensures that exchange rates, regulations and local fees don’t get in the way of profits and market penetration for publishers. Additionally, Social Gold provides publishers with a comprehensive payments solution as customers can purchase virtual goods using credit and debit cards, mobile payments, cash and bank transfers. Over the course of the year, Social Gold will expand their partnerships to additional growing overseas markets such as Southeast Asia and Latin America.
“When publishers integrate the Social Gold platform, they typically see a 30-50% lift in conversion as well as the lifetime value of customers increase to twice as long. Now with the ability to allow users to buy in their local currencies, we are also seeing a 10% lift in average order size,” said Gupta.
With today’s payment methods launch, Social Gold starts supporting the virtual economies for Nexopia in Canada, Wonderhill in Europe, and Tetris Friends in Canada, the United Kingdom and Australia. Going forward, Social Gold will enable these publishers to monetize different currencies and accept a wide variety of payment forms seamlessly.
“As Canada’s largest social networking site for teens, our first priority is providing a high quality user experience, and Social Gold’s in-app payments solution enables a seamless purchasing experience for our community,” said Kevin Swan of Nexopia.“We’re looking forward to gaining the feedback from our community on the new payments platform and growing our relationship with Social Gold.”
For more information about Social Gold, visit the official website at http://getsocialgold.com.
About Social Gold™
Social Gold™ is an industry-leading virtual goods monetization platform owned and operated by Jambool, Inc. The Social Gold platform enables developers to create and manage their own white-labeled virtual currency, provide an unparalleled payments experience to their users, and optimize their virtual economy using robust analytics. Through an innovative in-Flash payments solution and direct integrations with the most relevant payment methods in global markets, the Social Gold platform streamlines the purchasing experience and drives conversion. Jambool, Inc. was co-founded by Amazon.com veterans Vikas Gupta and Reza Hussein and has offices in San Francisco, Seattle and Singapore. For more information, please visit http://getsocialgold.com.
© Jambool, Inc. All rights reserved. Jambool and Social Gold are the trademarks of Jambool, Inc. All third-party trademarks are the property of their respective owners.
Kate Pietrelli, TriplePoint